ETC Technical Analysis: It Is Dangerous To Buy Above $24

Nothing is as exhausting as waiting before a blow. And if this wait lasts 7 weeks? As of 24 January, the ETC market has fixed above the $25 mark. Since then, buyers have been able to prevent local low from being updated. However, it is not yet possible for buyers to take control of the $39 mark. Thus, the ETC price for 7 weeks is in the range of $24-$39. The trading volumes during this consolidation are low. https://www.tradingview.com/x/0TgpiPxX/ In addition, we should not forget that this consolidation is within the fall channel from November 2021. If buyers are not able to take control of at least $33 by the end of March – it is likely that the downward trend will continue with the final target of $17. The ideal scenario for buyers to start a new growth wave is to continue the current consolidation until May 2022. In this case, there is enough time to buy all sellers at local lows and gather positions to start growth. If we update the $24 mark, we will stop considering ETC for investment soon. Technical Analysis Of ETC On The Daily Timeframe https://www.tradingview.com/x/jdsuHnP5/ Analyzing the movement of the ETC price on the daily timeframe, you can see a significant decrease in trading volumes from 5 March. In short, the trading volumes were low, and during the last week – catastrophically low. The market froze in anticipation of the BTC price movement. The local triangle has formed smaller consolidation limits – $24-$30...